Principal Financial Group Inc. Trims Position in Capri Holdings Limited (NYSE:CPRI)

Principal Financial Group Inc. lowered its stake in shares of Capri Holdings Limited (NYSE:CPRI) by 29.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 272,464 shares of the company’s stock after selling 115,650 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Capri worth $11,563,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in shares of Capri in the 3rd quarter valued at approximately $42,000. Quarry LP purchased a new position in Capri in the 3rd quarter valued at $53,000. Signaturefd LLC increased its stake in Capri by 14.7% in the 2nd quarter. Signaturefd LLC now owns 2,734 shares of the company’s stock valued at $90,000 after buying an additional 351 shares during the period. KBC Group NV raised its position in Capri by 26.9% during the 3rd quarter. KBC Group NV now owns 3,074 shares of the company’s stock worth $130,000 after buying an additional 652 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Capri by 26.9% in the 3rd quarter. CWM LLC now owns 3,112 shares of the company’s stock worth $132,000 after acquiring an additional 660 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.

Capri Stock Down 1.1 %

Shares of NYSE CPRI opened at $20.96 on Monday. The firm’s 50-day moving average is $22.95 and its two-hundred day moving average is $31.27. The company has a market capitalization of $2.47 billion, a PE ratio of -6.85, a price-to-earnings-growth ratio of 4.55 and a beta of 2.05. Capri Holdings Limited has a 12-month low of $18.70 and a 12-month high of $51.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.38.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPRI. Wells Fargo & Company reduced their price objective on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. UBS Group decreased their price target on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Guggenheim raised Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 26th. TD Cowen reduced their target price on Capri from $57.00 to $22.00 and set a “hold” rating for the company in a report on Friday, November 15th. Finally, Telsey Advisory Group lowered their price target on shares of Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.90.

Capri Company Profile

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.